A Step by Step Guide on Staking HBTC and Earning LINA
Linear is a cross-chain compatible, delta-one asset protocol. Linear’s long term DeFi vision is to increase inclusiveness and democratize access to any investment exposure. Alongside with our mainnet launch, we are launching a 4-week Huobi BTC (HBTC) pre-staking program to encourage cross platform use cases for both Huobi and Linear Protocol in the long term. We believe that this collaboration will bring immense value to both Linear and Huobi users.
This pre-staking program allows Huobi users to stake HBTC and receive locked LINA tokens. Although these LINA token rewards are subject to a 12-month lockup from the end date of the pre-staking program, these locked rewards can be used to mint ℓUSD after the end of program when migration of the locked LINA is done. Also, Linear will support HBTC as a choice of multi-collateral staking on Buildr, which is expected to go live in Q1 2021.
HBTC stakers will earn a total of 20,000,000 LINA tokens, and are subject to a linear release schedule over 4 weeks. The reward is spread evenly over each block and each staker earns their pro-rata share of the rewards in each block depending upon their percentage share of the entire staking pool.
The expected rewards are as follows:
The early staked will enjoy a higher return as they account for a higher proportion of the pool. APY is calculated on December 17 at 00:00 with BTC at 20,610 and LINA at 0.0102 (based on Coingecko). Actual returns in terms of APY may vary depending on the value of both tokens.
How to Stake HBTC Tokens
Staking will be available on 23rd December (Wednesday) 17:00 Singapore time. Here’s is the staking platform link: https://hbtc-staking.linear.finance.
To learn how to get HBTC, please learn more at https://huobiglobal.medium.com/tutorial-huobi-btc-hbtc-71e00887aa8b.
Please note that HBTC needs to be withdrawn to your Metamask in order to be staked into the staking platform.
Our staking page allows early supporters to earn rewards by staking their HBTC. There are two main features on this page, (i) Stake HBTC and (ii) Unstake HBTC. Stakers will first land on the page and connect their wallet with MetaMask.
(i) Stake HBTC
Users can click on the “stake” zone to begin with the process.
Users will then input the amount of HBTC that they want to stake and click on “STAKE NOW” to proceed with staking.
Users will then have successfully staked HBTC. Newly staked tokens will be shown on the “staking” balance.
(ii) Unstake HBTC
Users first click on the “unstake” zone to begin the process.
Users input the amount of HBTC that they want to unstake and click on “UNSTAKE NOW” to proceed with unstaking.
Users will have successfully unstaked HBTC. The staking balance will be updated.